Shares of Google-parent Alphabet are trading up 1% at $US1,210 a share ahead of the company’s second-quarter earnings report due out after the closing bell. Monday’s bid has Alphabet trading about 1% below its record high of $US1,221.59.

Wall Street analysts surveyed by Bloomberg are expecting the search giant to earn an adjusted $US11.68 a share on revenue of $US25.55 billion. GAAP earnings are forecast at $US9.30 a share.

The results come less than a week after the European Union fined Alphabet a record breaking 4.3 billion euros ($US5 billion), accusing it of abusing its dominant Android mobile-operating system to cement the popularity of Google apps and services. The penalty is equal to about 40% of Google’s $US12.62 billion profit in 2017.

“We do not believe the fine (if ultimately paid) would have a material effect on Alphabet’s business or its liquidity,” Goldman Sachs analyst Heath Terry said in a note. “The mandated changes to behaviour may have a greater impact, but we cannot quantify that impact without knowing how Google will alter its operations, or whether it will be forced to comply pending appeals.” He rates the stock a “buy,” with a price target of $US1,250 a share.